Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1887-11-18

The Staunton Vindicator.
FRIDAY MORNING, NOV. IS. 1887.
LOCAL.
Valley Railway Company.
ANNUAL MEETING OF STOCKHOLDERS.
The sixteenth annual meeting of the
Stockholders Of the Valley Railway Co..
was held on Tuesday morning last at the
Office of Messrs. Shelley & Bumgardner in
this city, presided over by Mr.. VIM. A.
Burke, with Mr.. G.. W. Slaughter as Sec
rotary.
The following shares of stock were
found to be representative of Balti-
more by John A. Robb, 10000 shares; Bal
timore & Ohio R'y by Henry Uuvall. TO-
200 shares; Rockbridge by W. A. Ander-
son, 800 shares, and eight individual
shares being 20.508 out of the 3d. 900
shares in the road.
The Secretary then read the
SEVENTEENTH ANNUAL REPORT OF THE
PRESIDENT AND DIRECTORS TO THE
STOCKHOLDERS OF THE VALLEY RAIL
ROAD COMPANY.
Gentlemen: President and Directors
submit the following report of the operations
of the Company for the fiscal year ended Sep
tember 30th, 1887.
1885. 1886. 1887.
Number of miles operated 81 81 90
1887. 1886. Iaass. Dec'se.
Gross Earnings
from traffic, sll5, 9O7,O7 sl15 32727 $3.50
Receipts from
other sources 6365O5 1O.34O,O9 3,975.O4
Total, 122272.l2 I25, 6673
Expenses. 7s.9O5.47 s364.71 946l.A
Net Earnings 4335S.65 37,3o2,65 6O66O0
MILEAGE.
1887. 1886. Isc'se. Dee'se.
Passenger Trains, 41.16s 46.S7S $40
Passenger Cars, 22l.32S 24s.237 26,sO9
Freight Trains, $1,000 1857 1887
Freight Cars, 524 69s 64O,193 1l6,495
BONDED INDEBTEDNESS OF THE COMPANY.
First Mortgage Bonds, authorized
In Treasury of Company ............ 250,O0
Outstanding ......"...........". $3.50, 900
The statement marked &c" shows in detail
the earnings and expenses for the year.
The statement of county bonds owned by
the Company is attached hereto marked Cd"
The interest is paid regularly upon $40, 100 of
A - Do&axo
county bonds.
The freight delivered to the Richmond &
Allegheny Railroad Co., as compared with
the previous year, shows decrease of 1894
tons the decrease being chiefly in coke ship
ments, but the freight delivered to the Rich
mond & Allegheny Co., is still largely in ex-
cess of the amount received from that road.
The freight delivered to the Newport News
& Mississippi Valley Co. at Staunton for 1887,
as compared with 1886. shows an increase of
1,716 tons, aid the freight received from that
Company has increased IL, AS tons.
The working expenses have been materially
decreased, Statement "C") during the fiscal
year as compared with the year previous.
The tracks and other properties of the Com
pany have been thoroughly maintained and
improved during the year. 5,748 feet of
steel rail have been laid and Z, 172 new cross
ties have been placed in the tracks.
The sidings at Spottswood and Decatur
have been extended.
A water station, supplied by gravity, has
been erected at Decatur, the track and other
materials from the station at Fairfield having
been removed and utilized for this purpose,
thus avoiding the expense of fuel wages and
repairs incident to pumping.
The stock pens at Staunton have been re-
built with cedar and locust posts. This i'm
provement embraces eight pens, each 24x32
feet, five boards high with seven gates and one
single and one double deck chute.
All expenses of whatsoever character upon
the line, during the year, have been charged
to operation and none to construction or i'm
provement.
The Board again takes pleasure in express
ing to all the officers and employees its &C
acknowledgement for earnest and effective ser
vices during the year.
tSigned), S. SPENCER,
President.
The committee to examine the Presi-
sIdent's report-Messrs. Duvall, Robb
and Jed. Hotchkiss having reported it
correct, it was received and fled.
ELECTION OF OFFICERS.
On motion of Mr.. Robb, Mr.. Samuel
Spencer was reelected President, and the
old Board of Directors reelected.
The meeting then adjourned.